This analysis describes what Bank of America's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The arbitration clause establishes the procedural framework for dispute resolution, defining where and how disagreements will be adjudicated. This provision shapes the operational structure of customer remedies by designating arbitration as the binding mechanism for all covered disputes.
The updated Deposit Agreement now explicitly discloses that disputes are subject to mandatory arbitration and class action waiver provisions, as stated prominently at the document's opening. The agreement establishes separate dispute resolution procedures for personal and business accounts and introduces new operational provisions governing account closure, jurisdiction and venue, cutoff times for legal orders, and responses to conflicting demands. The terms require that by using or maintaining your account after a change is effective, you agree to be bound by the updated provisions. You can review the complete updated agreement on bankofamerica.com or contact Bank of America directly if you wish to understand how the specific dispute resolution procedures apply to your account.
View change record →Under this clause, customers agree that disputes with Bank of America will proceed through arbitration rather than court proceedings, and that they waive the right to participate in class action litigation. The terms establish individual arbitration as the binding dispute resolution method for claims arising from account operations and agreement terms.
How other platforms handle this
You may reject any change we make to section 15 (except address changes) by personally signing and sending us notice within 30 days of the change by U.S. Mail to the address in section 15.b.
the arbitration provider, National Arbitration and Mediation ("NAM"), shall not accept or administer any demand for arbitration and shall administratively close any arbitration unless the Party bringing such demand for arbitration can certify in writing that the terms...were fully satisfied.
Neither you nor we may elect arbitration of any claims seeking only individualized relief asserted by you or us in small claims court, so long as the action remains in that court and is not removed or appealed de novo...
Coinbase's User Agreement includes a mandatory arbitration clause that most users may not have reviewed. Here is what the clause states and how the opt-out process works.
561 arbitration provisions across 197 platforms. ConductAtlas tracks how dispute resolution is being restructured across the internet.
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The arbitration clause establishes the procedural framework for dispute resolution, defining where and how disagreements will be adjudicated. This provision shapes the operational structure of customer remedies by designating arbitration as the binding mechanism for all covered disputes.
Under this clause, customers agree that disputes with Bank of America will proceed through arbitration rather than court proceedings, and that they waive the right to participate in class action litigation. The terms establish individual arbitration as the binding dispute resolution method for claims arising from account operations and agreement terms.
ConductAtlas has identified this type of provision across 205 platforms. See the full comparison.
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